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[US] For personal loans, is the usury limit in the state of the lender or the borrower?
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crimeo is in US
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I'm guessing its the lender, since credit cards based in Delaware are able to charge 22% interest and so on in every state. But I'm not sure if this is also true for personal loans.

I live in a place where it goes up above 10%, but my friend lives in a state where it is 3.5% maximum.

I want to give them a loan, but 3.5% is too low to justify it from opportunity losses. 10% would be fine (willing to go below a bit below equity rates for something that is contractual). So it hinges on this whether I can agree or not.

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crimeo
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Posted
3 years ago
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